Colleges nationwide are closing their doors and moving to online-only learning amid the coronavirus pandemic. If you’re left in the lurch, the federal stimulus provides some student loan relief, but you’ll want to turn to your college for answers, too.
All students with federal loans qualify to delay payments, interest-free, through September. Some private lenders are offering forbearance as well.
Here is additional financial help that may be available to college students.
Independent students can get a stimulus check
Under the Coronavirus Aid, Relief, and Economic Security Act, most undergraduate college students will not receive a stimulus check. That’s because your parents might have claimed you as a dependent on their tax return, and dependents don’t qualify. Most students under age 24 are considered dependents.
But students who are independent — like many graduate students and undergraduates older than 24 — will get the full $1,200 one-time amount if they